Vietnamese President Advocates for Stronger India-Vietnam Ties Amid Global Changes
Mumbai: On Thursday, Vietnamese President To Lam expressed a desire to strengthen relationships between Vietnam and India, addressing the significant changes occurring worldwide, such as the rise of artificial intelligence.
Speaking at the India-Vietnam Business Forum, Lam highlighted how shifts like the reconstruction of global supply chains and increased strategic competition among major economies create both challenges and opportunities for both nations. He emphasized the need to elevate their economic collaboration from traditional partnerships to more integrated, strategic alliances in new industries.
Since establishing a comprehensive strategic partnership in 2016, the ties between the two countries have grown robustly. However, Lam pointed out that there is still much to be done.
“We have the chance to start a new chapter in our cooperation, moving towards co-creation within the global supply chain,” Lam, also the General Secretary of the Communist Party of Vietnam, remarked.
He urged businesses from both nations to be more proactive in utilizing the supportive environment established by their governments. Collaboration, as well as the sharing of experiences and technology, is key. Lam encouraged companies to work together to balance trade and invest in crucial future sectors such as artificial intelligence, semiconductors, pharmaceuticals, biotechnology, clean energy, logistics, data centers, and research and development.
“We promise to protect the rights of investors and create a clear and fair business landscape,” he assured.
During the event, Maharashtra’s Chief Minister Devendra Fadnavis invited Vietnamese businesses to consider Maharashtra as a gateway to the vast Indian market. He also welcomed a significant investment commitment of USD 6.5 billion from Vin Group across various sectors in the state.
Earlier, Lam participated in a bell-ringing ceremony at the National Stock Exchange of India. Additionally, a delegation from Ho Chi Minh City took part in a roundtable discussion organized by the MVIRDC World Trade Center in Mumbai.
